Brickworks (BKW)

Shares in building materials provider
Brickworks
have shot up 12 per cent since the company released a review of results in September. However, a bigger factor for its shares may be yesterday’s revelation by investor Mark Carnegie that he has partnered with fellow investor Perpetual in a bid to unlock the cross-shareholding structure linking
Washington H Soul Pattinson
and
Brickworks
. Brickworks, which owns a 43 per cent interest in associate Soul Patts, holds its annual general meeting today. Mr Carnegie and Perpetual will “explore options" with the intent to unlock untapped value for all investors. Brickworks’ own review noted that the company’s restructure had softened the impact of a decline in building activity. It still posted a 22 per cent drop in net operating profit for the year to July. Brickworks has also been actively managing its land banks. It recently gained a rezoning which could lift the value of land by $50 million.